First Internet Bank

A premier provider of online banking services nationwide, First Internet Bank of Indiana opened for business in 1999 as the first state-chartered, FDIC-insured institution to operate solely via the Internet. With customers in all 50 states, First Internet Bank offers consumers services including checking, savings, money market, health savings, certificates of deposit and IRA accounts as well as consumer loans, residential mortgages, residential construction loans and home equity products. For commercial clients, it provides commercial real estate loans, commercial and industrial loans and treasury management services. The bank is a wholly owned subsidiary of First Internet Bancorp (NASDAQ: INBK).
Company Growth (employees)
Type
Public
HQ
Fishers, US
Founded
1999
Size (employees)
192 (est)+27%
First Internet Bank was founded in 1999 and is headquartered in Fishers, US

First Internet Bank Office Locations

First Internet Bank has an office in Fishers
Fishers, US (HQ)
11201 USA Pkwy

First Internet Bank Data and Metrics

First Internet Bank Financial Metrics

First Internet Bank's revenue was reported to be $19.5 m in Q1, 2017
USD

Revenue (Q1, 2017)

19.5 m

Gross profit (Q1, 2017)

13.6 m

Gross profit margin (Q1, 2017), %

70%

Net income (Q1, 2017)

2.8 m

EBIT (Q1, 2017)

10.4 m

Market capitalization (22-Aug-2017)

202.2 m

Cash (31-Mar-2017)

53.1 m
First Internet Bank's current market capitalization is $202.2 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

25.5 m31.2 m41.4 m73 m

Revenue growth, %

22%33%76%

Cost of goods sold

10.7 m19.2 m

Gross profit

30.8 m53.8 m

Gross profit Margin, %

74%74%

EBIT

28.8 m35.4 m

EBIT margin, %

70%48%

Pre tax profit

13.7 m18 m

Net Income

4.6 m4.3 m8.9 m12.1 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

9.2 m9.9 m12.3 m12.6 m12.9 m15.2 m17.7 m20.4 m19.5 m

Cost of goods sold

2.2 m2.3 m2.4 m2.6 m2.7 m3.6 m4.7 m5.1 m5.9 m

Gross profit

7 m7.6 m9.9 m10 m10.2 m11.7 m13.1 m15.2 m13.6 m

Gross profit Margin, %

76%77%80%80%79%77%74%75%70%

Sales and marketing expense

3 m3.3 m3.6 m3.8 m3.4 m3.9 m4.3 m4.6 m5.1 m

R&D expense

239 k246 k248 k233 k248 k274 k275 k286 k237 k

Operating expense total

3.3 m3.6 m3.8 m4 m3.7 m4.2 m4.6 m4.8 m5.3 m

EBIT

5.4 m5.7 m6.3 m7.6 m7.8 m8.2 m8.4 m8.1 m10.4 m

EBIT margin, %

58%57%51%60%61%54%47%40%53%

Pre tax profit

1.5 m1.9 m3.2 m3.4 m3.6 m3.7 m4.3 m4.6 m3.9 m

Income tax expense

531 k661 k1.2 m1.2 m1.2 m1.3 m1.4 m1.5 m1 m

Net Income

977 k1.3 m2.1 m2.3 m2.3 m2.4 m2.8 m3.1 m2.8 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

53.7 m28.3 m25.2 m39.5 m

Accounts Receivable

2.9 m2.8 m4.1 m13.6 m

Inventories

1.3 b

PP&E

7.1 m7.1 m8.5 m10 m

Goodwill

4.7 m4.7 m4.7 m4.7 m

Total Assets

802.3 m970.5 m1.3 b1.9 b

Accounts Payable

102 k97 k117 k1.5 b

Total Liabilities

1.7 b

Retained Earnings

21.9 m25.1 m33 m43.7 m

Total Equity

90.9 m104.3 m153.9 m

Financial Leverage

8.8 x12.2 x12 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

20.6 m39.6 m39.6 m30.6 m20.6 m100.9 m70 m67.8 m53.1 m

Accounts Receivable

807.2 m868.9 m1 b

Inventories

1.1 b1.2 b1.4 b

PP&E

7.1 m7.1 m7 m8.1 m8.5 m8.5 m9.3 m10.1 m9.9 m

Goodwill

4.7 m4.7 m4.7 m4.7 m4.7 m4.7 m4.7 m4.7 m4.7 m

Total Assets

868.1 m926.9 m1 b1.1 b1.2 b1.5 b1.7 b1.8 b2.1 b

Accounts Payable

744.2 m738 m821.2 m856.5 m899.8 m1.2 b1.4 b1.5 b1.6 b

Common Stock

71.5 m71.7 m72 m72.2 m72.4 m72.7 m95.6 m95.8 m119.6 m

Retained Earnings

22.9 m24 m26.9 m28.9 m31 m35.1 m37.6 m40.4 m46.1 m

Total Equity

99.9 m102.9 m107.8 m135.7 m137.2 m157.5 m

Financial Leverage

11.1 x11.3 x14.2 x12.5 x13.3 x13 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

4.6 m4.3 m8.9 m12.1 m

Depreciation and Amortization

2.3 m1.9 m1.9 m3.8 m

Accounts Receivable

(708 k)

Cash From Operating Activities

41.5 m2 m10.9 m26.5 m

Cash From Investing Activities

(185.4 m)(186.7 m)(304.2 m)(586.7 m)

Long-term Borrowings

(22 m)(95 m)

Dividends Paid

(450 k)(1.1 m)(1.1 m)(1.2 m)

Cash From Financing Activities

165.1 m159.3 m290.1 m574.6 m

Interest Paid

8.1 m8.9 m10.7 m19.2 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

977 k1.3 m2.1 m2.3 m2.3 m2.4 m2.8 m3.1 m2.8 m

Accounts Receivable

2.7 m2.8 m3 m3.6 m3.6 m4.5 m5.5 m5.8 m6.9 m

Accounts Payable

96 k82 k104 k108 k112 k108 k138 k125 k148 k
USDY, 2017

Revenue/Employee

128.4 k

Financial Leverage

13 x

First Internet Bank Market Value History

Traffic Overview of First Internet Bank

First Internet Bank Online and Social Media Presence

First Internet Bank News and Updates

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